Maryland State Retirement & Pension System Sells 162 Shares of MongoDB, Inc. (NASDAQ:MDB)

Maryland State Retirement & Pension System lowered its position in MongoDB, Inc. (NASDAQ:MDB) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,907 shares of the company’s stock after selling 162 shares during the quarter. Maryland State Retirement & Pension System’s holdings in MongoDB were worth $910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Xponance Inc. increased its stake in shares of MongoDB by 9.3% in the 4th quarter. Xponance Inc. now owns 13,677 shares of the company’s stock valued at $3,184,000 after buying an additional 1,162 shares during the period. Primecap Management Co. CA increased its stake in shares of MongoDB by 28.6% in the 4th quarter. Primecap Management Co. CA now owns 90,350 shares of the company’s stock valued at $21,034,000 after acquiring an additional 20,100 shares during the last quarter. Nicholas Company Inc. increased its stake in shares of MongoDB by 94.5% in the 4th quarter. Nicholas Company Inc. now owns 202,509 shares of the company’s stock valued at $47,146,000 after acquiring an additional 98,394 shares during the last quarter. Natixis Advisors LLC raised its position in shares of MongoDB by 49.7% in the 4th quarter. Natixis Advisors LLC now owns 27,397 shares of the company’s stock valued at $6,378,000 after acquiring an additional 9,093 shares during the period. Finally, LBP AM SA grew its holdings in MongoDB by 81.9% during the fourth quarter. LBP AM SA now owns 246,091 shares of the company’s stock valued at $57,292,000 after purchasing an additional 110,768 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MDB shares. Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research report on Thursday, March 6th. Royal Bank of Canada lowered their target price on MongoDB from $400.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Mizuho raised their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, DA Davidson upped their price target on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $320.70.

MongoDB Stock Performance

MongoDB stock opened at $192.54 on Monday. The stock has a 50-day simple moving average of $250.97 and a 200 day simple moving average of $269.40. The stock has a market capitalization of $14.34 billion, a P/E ratio of -70.27 and a beta of 1.30. MongoDB, Inc. has a 52 week low of $173.13 and a 52 week high of $387.19.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the firm posted $0.86 earnings per share. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 169 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock valued at $11,328,869 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.